In what it claims to be a world-first, fund transaction network Calastone says it just moved its 1.800 customers to a blockchain-based platform.
London-based Calastone – referring to itself as the largest global funds transaction network – said in a press release Monday that it has successfully gone live with its blockchain-powered “Distributed Market Infrastructure” (DMI). To do this, it had 1.800 customers across 41 markets migrated to the new platform.
Settles in real time
Financial services organisations, through Calastone’s so called Distributed Market Infrastructure (DMI) platform, can now “access a fully mutualised global funds community whereby the trading, settlement and servicing of funds is conducted in real-time,” according to the firm.
The platform also comprises a new tool called a sub-register, “which creates a shared, real-time view and history of the registers between trading partners at any point in the distribution chain”.